Kenyans who belong to co-operative societies these days are living during an exciting period. Strategic reforms in the sector, the widespread use of modern technology as well as innovativeness are pushing service delivery to unprecedented levels in the history of the co-operative movement.
We have seen co-operatives rebrand, become ISO 9001:2015 certified, invest in robust core banking systems, expand their service delivery channels, develop more products that resonate with members’ financial needs, and generally embrace good management practices. We laud such efforts.
The Kenya Bankers is among such Savings and Credit Co-operative Society that want to improve the experience and fortunes of their members by rebranding. The Kenya Bankers is putting itself in a position to reach out and attract a wide clientele. With the kind of financial, technological, and human resources at its disposal, this progressive Sacco is well-placed to serve a broader cross-section of customers, not just the current membership.
The State Department for Co-operatives will continue formulating relevant policies that grow the co-operative movement. We are cognizant of the changing environment in which co-operatives shall be regulated and supervised. Such policies will help the nation to promote sustainable and competitive co-operative societies for an enhanced role in industrialization and improved social-economic development. We believe that supportive policies will enable co-operatives to unlock more economic opportunities for members and by extension, the whole nation.
Co-operatives can do so much to promote members’ social and economic welfare. I urge co-operatives to invest in education and training as this will enhance members’ understanding of the principles of personal finance. Such members will tend to save regularly, borrow wisely and pay promptly for self-development and the growth of the Sacco.
The Kenya Bankers, PS lauds Sacco for rebranding
